Vietnam banking sector shifts toward digital ecosystems and AI

The banking sector in Vietnam is undergoing a significant digital transformation, moving toward integrated digital ecosystems driven by data and Artificial Intelligence (AI). Banks are expanding their reach beyond traditional services to connect with e-commerce, taxation, healthcare, education, and public services.

According to the State Bank of Vietnam, digital integration is already widespread: 66.8% of e-commerce transactions are cashless, 98.7% of enterprises utilize electronic tax payments, and 100% of urban universities collect tuition through banking systems. Furthermore, cross-border QR code payments have been established between Vietnam and several nations, including Thailand, Cambodia, Laos, China, South Korea, and Singapore.

This shift focuses on building robust digital infrastructure to support the national financial bloodstream. By leveraging AI and open banking, financial institutions aim to improve system efficiency, expand service accessibility, and provide better cash flow management for businesses.